BHIKHALAL PRAHALADRAI AGARWAL HUF,GANDHIDHAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, GANDHIDHAM CIRCLE, GANDHIDHAM

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos.779&780/Rjt/2024 ("नधा"रण वष" / Assessment Years: 2011-12 & 2016-17) Bhikhalal Prahaladrai Agarwal- Vs. Assistant Commissioner Of Income Tax, Huf, Gandhidham Circle C/O. Sarda & Sarda, Sakar, 1St It Office, Plot No. 32, Sector No. 3, Near Floor, Dr. Radha-Krishnan Road, Iffco Colony, Gandhidham Opp. Rajkumar College Rajkot Gandhidham - 370201 Rajkot - 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabha4638R (Assessee) (Respondent) Assessee By : Shri Vimal Desai, Ld. Ar Respondent By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr Date Of Hearing : 05/06/2025 Date Of Pronouncement : 21/08/2025

exempt bogus Long Term Capital Gains to large number of persons (beneficiaries) in lieu of unaccounted cash. The basic objective

MANSUKHLAL KHIMJI KHIMASIYA,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

capital gains (which is exempt u/s 10(38) of the Act or bogus long term /short term capital loss). The assessee

MANSUKHLAL KHIMJI KHIMASIYA HUF,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

capital gains (which is exempt u/s 10(38) of the Act or bogus long term /short term capital loss). The assessee

BHANUBEN MANSUKHLAL KHIMASIYA,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

capital gains (which is exempt u/s 10(38) of the Act or bogus long term /short term capital loss). The assessee

JAYESH KHIMJI KHIMASIYA HUF,JAMNAGAR vs. OFFICE OF PRINCIPAL COMMISSIONER OF INCOME-TAX, JAMNAGAR, JAMNAGAR

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

capital gains (which is exempt u/s 10(38) of the Act or bogus long term /short term capital loss). The assessee

MISS PARI ANIL GANDHI, RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

capital gain of Rs.1,32,35,925/-, has been shown\nfrom sale of 12,72,000 shares of Atlanta Infra& Finance Limited, with\nscript code 530479 (formerly known as Kadavani Securities Limited) and\nthe same has been claimed as exempt

LATE SMT. PRITI A. GANDHI L/R. SHRI ANILBHAI A. GANDHI, RAJKOT,RAJKOT vs. THE PR. CIT-1, RAJKOT, RAJKOT

capital gain of Rs.1,32,35,925/-, has been shown\nfrom sale of 12,72,000 shares of Atlanta Infra& Finance Limited, with\nscript code 530479 (formerly known as Kadavani Securities Limited) and\nthe same has been claimed as exempt

NISHANT PAREKH- LEGAL HEIR OF MINA PAREKH,JAMNAGAR vs. INCOME TAX OFFICER, WARD-1(3), JAMNAGAR

In the result, the appeal of the assessee is allowed

Bench: Dr. Arjun Lal Saini. आयकरअपीलसं./Ita No.215/Rjt/2025 "नधा"रणवष" / Assessment Year: (2015-2016) Nishant Parekh – Legal Heir Of Vs. Income Tax Officer Mina Parekh Aaykar Bhavan 322 Madhav Square, Opp 361001, Gujrat Avantika Complex, Limda Lane Road, Gujrat-361001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aanpp9471F (Appellant) (Respondent)

capital gain, as exempt Long Term Capital Gain under section 10(38) of the Act. The assessing officer, nowhere, in the assessment

SHRI KANJIBHAI B. RANGANI,,RAJKOT-GUJARAT vs. THE INCOME TAX OFFICER, WARD-5(1), RAJKOT-GUJARAT

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

Capital Gain and in schedule EI i.e. Exempt Income. The assessee failed to comply in response to notice u/s 142(1) dtd. 01-12-2010 even

DUSHYANT BHARATBHAI MEHTA,RAJKOT vs. ITO WD-(2)(1)(2) , RAJKOT

In the result, appeal filed by the assessee, is allowed

exempt u/s. 54 of the Act,\nthus, reducing the taxable capital gain to a nominal sum. It is further seen

HANSA JITENDRA HARIA,JAMNAGAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAMNAGAR

In the result, the appeal of the assessee is dismissed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.104/Rjt/2024 ("नधा"रण वष" / Assessment Year: (2013-14) (Hybrid Hearing) Hansa Jitendra Haria Vs. Principal Commissioner Of 2, Oswal Colony, Near Rajendra Income Tax Balkrindagan, Jamnagar, Gujarat Jamnagar 361005. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahph4309L (Assessee) (Respondent)

capital gain ( in brief “LTCG”), as exempt u/s 10(38) of the Act, to the tune of Rs. 5,26,730/-, in the return

SAMEER SHAH (HUF),1 "SWAPNEEL" ,OPP. GURUDATATREY TEMPLE PALACE ROAD vs. INCOME TAX OFFICER, WARD 1(3), JAMNAGAR, GUJARAT

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Saini. आयकरअपीलसं./Ita No.248/Rjt/2025 "नधा"रणवष" / Assessment Year: (2013-14) (Hybrid Hearing) Sameer Shah (Huf), Vs. The Ito Ward 1(3), 1 “Swapneel”, Opp. Jamnagar - 361001 Gurudatatrey Temple, Palace Road, Jamnagar - 361008 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aawhs3749E (Appellant) (Respondent)

exemption under section 10(38) for long-term capital gains. The instant case of the appellant is covered under the facts

BABUBHAI KANJIBHAI SAKARIYA LEGAL HEIR OF LATE SMT. UJIBEN KANJIBHAI SAKARIYA,JETPUR vs. ITO WARD 1(2)(1), RAJKOT, RAJKOT

In the result, the appeal filed by the assessee is allowed

Capital Gain and claiming it to be exempt under section\n10(38) of the Income-tax Act?\"\nPage 14 of 21\nITA

NISHANT PAREKH - LEGAL HEIR OF MINA PAREKH,JAMNAGAR vs. INCOME TAX OFFICER, WARD 1(3), JAMNAGAR

The appeal of the assessee is allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं./Ita No. 196/Rjt/2025 ("नधा"रणवष"/Assessment Year: (2012-13) Nishant Parekh – Legak Heir Of Mina Income Tax Officer, Wd – 1(3), Parekh Vs. Aayakar Bhavan, 322, Madhav Square, Opp. Avantika Jamnagar – 361001 Complex, Limda Lane Road, Jamnagar – 361001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aanpp9471F (अपीलाथ"/Assessee) (""यथ"/Respondent)

exempt Long Term Capital Gain u/s. 10(38) is backed by third party evidence ( bills, invoices, contract note, D- mate

SMT. BIJAL DARSHITBHAI PUJARA,,RAJKOT vs. THE DY. COMMR. OF INCOME TAX, CIRCLE-1 (1),, RAJKOT

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

capital gains on sale of such land was exempt from taxation. However, the assessing officer rejected the contention of the assessee

SHRI CHHAGANBHAI MULJIBHAI PATOLIYA,JETPUR vs. THE ITO WARD-1 (2) (3) RAJKOT, RAJKOT

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Dr. Arjun Lal Sainiआयकरअपीलसं./Ita No.477/Rjt/2025 "नधा"रणवष" / Assessment Year: (2012-13) Chhaganbhai Muljibhai Patoliya, Vs The Ito Ward 1(2)(3), Radhe Park, Shreeji School, Aayakar Bhavan, Race Course, . Amarnagar Road, Rajkot (Gujarat) - 360001 Jetpur (Gujarat) - 360370 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ddrpp2365A (Appellant) (Respondent)

Exemptions, accordingly the grounds raised by the appellant are liable to be dismissed. As seen from AO order at Para No.6, the AO has not recomputed the capital gains

JAGANI VINODRAI GOPALDAS (HUF),RAJKOT vs. THE ITO, WARD-1 (2) (4),, RAJKOT

In the result, the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri T.R Senthil Kumarआयकर अपील सं./Ita No. 59/Rjt/2023 िनधा"रण वष"/Asstt. Year: 2014-15 Jagani Vinodrai Gopaldas Huf, Income-Tax Officer, 62 – Suraj Appartment, Vs. Ward-1(2)(4), No.1 Shroff Road, Rajkot. Opp. Church, Nfac, Delhi Rajkot-360001. Pan: Aaahj9710N

exemption u/s 10(38) of the Act. However, the AO found that the shares were held as stock in trade and therefore the income on the sale of shares is qualified as business income and not income under the head long term capital gain

PRITIBEN JAGDISHBHAI MEHTA,RAJKOT vs. THE PR. COMMISSIONER OF INCOME TAX-1, RAJKOT, RAJKOT

In the result, appeal filed by the assessee is allowed

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinha

capital gain, as exempt Long Term Capital Gain under section 10(38) of the Act. The assessing officer, nowhere, in the assessment